Tocqueville Asset Management L.P. cut its holdings in Golar LNG Partners LP (NASDAQ:GMLP) by 52.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 54,548 shares of the shipping company’s stock after selling 60,000 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.08% of Golar LNG Partners worth $1,244,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of GMLP. JPMorgan Chase & Co. raised its position in shares of Golar LNG Partners by 37.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 666,827 shares of the shipping company’s stock worth $15,110,000 after acquiring an additional 181,868 shares in the last quarter. First Trust Advisors LP increased its position in Golar LNG Partners by 16.5% in the 4th quarter. First Trust Advisors LP now owns 464,238 shares of the shipping company’s stock valued at $10,585,000 after buying an additional 65,759 shares in the last quarter. BlackRock Inc. increased its position in Golar LNG Partners by 67.1% in the 4th quarter. BlackRock Inc. now owns 150,648 shares of the shipping company’s stock valued at $3,434,000 after buying an additional 60,476 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Golar LNG Partners by 43.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 159,098 shares of the shipping company’s stock valued at $3,627,000 after buying an additional 48,191 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in Golar LNG Partners in the 4th quarter valued at about $927,000. 43.99% of the stock is owned by hedge funds and other institutional investors.
GMLP has been the subject of a number of research analyst reports. Zacks Investment Research raised Golar LNG Partners from a “sell” rating to a “hold” rating in a research report on Thursday, March 8th. Jefferies Group initiated coverage on Golar LNG Partners in a research report on Monday, December 18th. They issued a “buy” rating and a $26.00 target price for the company. Bank of America decreased their target price on Golar LNG Partners from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, March 5th. BidaskClub lowered Golar LNG Partners from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Finally, ValuEngine lowered Golar LNG Partners from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $23.60.
Golar LNG Partners stock traded down $0.59 during mid-day trading on Monday, reaching $17.81. The company’s stock had a trading volume of 301,758 shares, compared to its average volume of 381,388. The firm has a market cap of $1,309.93, a P/E ratio of 9.57, a P/E/G ratio of 1.76 and a beta of 0.92. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.73 and a quick ratio of 1.71. Golar LNG Partners LP has a fifty-two week low of $17.31 and a fifty-two week high of $23.49.
Golar LNG Partners (NASDAQ:GMLP) last released its quarterly earnings results on Wednesday, February 28th. The shipping company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.10. The business had revenue of $90.11 million during the quarter, compared to the consensus estimate of $87.09 million. Golar LNG Partners had a return on equity of 17.19% and a net margin of 29.85%. equities research analysts expect that Golar LNG Partners LP will post 1.16 earnings per share for the current year.
Golar LNG Partners declared that its board has initiated a share repurchase plan on Monday, March 5th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the shipping company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.
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Golar LNG Partners Profile
Golar LNG Partners LP owns and operates floating storage regasification units (FSRUs) and liquefied natural gas (LNG) carriers under long-term time charters. The Company operates through the LNG market segment. The Company’s fleet consists of approximately six FSRUs and over four LNG carriers. The Company’s FSRU vessels include Golar Spirit, Golar Winter, Golar Freeze, NR Satu, Golar Igloo and Golar Eskimo.
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